Mark Cuban believes that Bitcoin is central to the support from Silicon Valley giants for former President Donald Trump’s political ambitions.

“It’s a Bitcoin play,” said billionaire businessman Mark Cuban on Wednesday. Trump remains a significant topic in the crypto world, on Capitol Hill, and in Silicon Valley. Trump mentioned he would reduce corporate taxes to 15-20%, a move Cuban believes could theoretically trigger Bitcoin’s (BTC) parabolic run and lead to much higher prices.

“Combine that with global uncertainty regarding the geopolitical role of the USA and the impact on the US Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration,” Cuban tweeted on X.

Cuban also speculated that Silicon Valley leaders see a Trump presidency as a way to solidify Bitcoin as a technologically superior global currency and a preferred hedge against inflation. Venture capitalist founders Marc Andreessen, Ben Horowitz, and Palantir’s Joe Lonsdale have donated $8.7 million to America Pac, which supports Trump’s campaign.

The Role of Bitcoin in Trump’s Political Support

Mark Cuban shared a different perspective on the emergence of Silicon Valley’s support for Trump. He clarified that this support is not necessarily because Trump is a strong crypto proponent, but rather due to the potential benefits for Bitcoin.

More California tycoons are reportedly offering financial support, and several crypto-native names, like Kraken founder Jesse Powell, have already contributed millions to Trump’s cause.

“Keep that in mind as you consider what happens if, due to geopolitical uncertainty and the decline of the dollar as the reserve currency, BTC becomes a ‘safe haven’ globally. This means that BTC could be what countries and individuals look to buy as a means to protect their savings,” according to Cuban.

If this scenario unfolds and Trump becomes president, Cuban suggested that BTC prices could rise higher than many might anticipate.

Trump’s Stance on Crypto

Donald Trump has positioned himself as a pro-crypto presidential candidate after reversing his previous stance on crypto and blockchain. He has received praise for opposing a central bank digital currency (CBDC), promoting Bitcoin (BTC), and supporting local Bitcoin mining. Trump also chose a crypto-friendly VP in Ohio Senator, J.D. Vance.

This decision marked America’s first-ever pro-crypto presidential ticket. Trump’s crypto reputation increased further after surviving an assassination attempt during a Pennsylvania rally last week.

These developments led to a market uptick, with Bitcoin reclaiming $65,000, a new monthly high. Trump is also scheduled to speak at the Bitcoin Conference in Nashville.

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